THE INSURANCE TIMES - June 2021

To stay sustainable: the insurance industry needs an urgent paradigm shift!

The current performance metric has outlived its utility - the way risks manifest, impact, get measured, priced, reported, regulated - all changes. With these threats come some of the biggest business opportunities.

loT Deciphered

This technology can be used in the insurance industry to improve risk assessment, claims processing, and preventive measures. For example, loT devices such as smart home systems and wearable technology can gather data on a person's behavior and environment, which can be used to assess their risk of accidents or illnesses.

Interview of Shri S. N. Satpathy, Secretary General, Insurance Institute of India

\"III works with practically all the public and private sector insurers and reinsurers as well as all the intermediaries to build internal academic and professional competencies for them. We do this both within and outside the country.\"

Insurers and Regulator Collaborate on Sustainable Anti-money Laundring Strategy

Business Continuity Management is inextricably linked to the Risk Management - one is the consequence of the other. Where Business continuity Management (including Planning and Testing) comes into force is through impact.

IBEX India 2023 BFSI tech trends for collaborative banking -

The year 2023 is an opportunity to predict what's in store for the future of banking. The cost of living crisis will cause banks to revamp their digital banking offerings.

Event Cancellation Insurance Policies

Insurance companies in India are covering major events like international cricket against the uncertainties of terror attacks and the vagaries of weather. Event cancellation insurance policy helps protect interest of organizers, broadcasters and sponsors of various event/ functions.

\"Technology-aided value adds have become an integral part of the reinsurance business.Let it be Rule Engine, Underwriting Manual, Predictive models in pricing or embedded products, all of it is playing an important role in the expansion of the reinsurance market.\"

About Rohit Rohit A. Boda joined the J.B.Boda Group in 2011 and is currently the Group Managing Director. He is a service focused broker who believes in utilizing opportunities from risks through strategic investment and visionary thinking.

Father of Life Insurance

Elizur Wright, a 19th century American who started his career as a mathematician is widely considered to be the father of life insurance.

Emergence of Parametric Insurance

The event, or parameter,\" is often indicated by an established and authoritative index for that type of event, such as the Richter scale for earthquake intensity or the Saffir-Simpson scale for hurricanes or Knot i.e., nautical mile per hour for storm.

Business Continuity and Disaster Management

Business Continuity Management is inextricably linked to the Risk Management - one is the consequence of the other. Where Business continuity Management (including Planning and Testing) comes into force is through impact.